Indianapolis Times, Volume 34, Number 87, Indianapolis, Marion County, 22 August 1921 — Page 10

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MONEY GROWING IN ABUNDANCE; GOOD TIMES DUE Thrift Cause of Another Cycle of Prosperity, but New Legislation Helps. MARKET IS STILL WEAK Sped*.! to Indiana Dally Tim** and Philadelphia Public Ledger. KIW YORK. Aug. 22.—Cross cnrrents roatlnue to confuse the general financial situation and to find reflection in e---<urlty price movement* The general Improvement and the hopeful outlook Irrm a fundamental standpoint la not yet anfflclently assertive to overcome the adverse Influence of certain concrete factors. T'ndoubtedly the chief pressure on the market of late has been in the nature of liquidation Short selling has played its part, of course, hut no one who ha* a clear knowledge of the character of trading believes that ahort selling alone has been the depressant. Professionals are daring when they see a chance for nimble profits, but eaperience has tacghf them the futility of selling dull markets around the lowest levels In years As to the causes of liquidation, probably no on# explanation would suffice unless U might be embraced under the generic head of the need of liquid fund* Much of the selling has been of the character described by the up-to date market writer a* “necessitous.'' Business losses and the decline m the market, as well •-* reduction in incomes due to passing of dividends have put thousands of well-to do Mtiscns in n-ed of ready funds. This has furnished the occasion for part of the selling. Many others have sold because they see no particular advantage in hanging on to stocks that pay no divt deeds and that refuse to advance, es peclatly when cash Is a handy thing to have around PrRUC IVDIFTKKENT ~ TOWARD STOCKS. This may serve to snow the occasion for recent offerings of stocks around prevailing low levels. It also is explanatory of public apathy and Indifference toward stock market movements. People speculate as a rule, as one veteran of tiie street pnt It yean ago. from “hope of profit” At present they appear to be tired of hoping. Tnder such circumstances, there is little ground for auprise over the failure of broadly constructive developments to sfl/nuhite active optimism The railroad funding plan, taxation reform, disarmament, reduced gorernmesta! expenditures —all these things are helpful, but to the man long of stocks and disappointed over declines they appear to be benefits as indefinitely deferred as the promise of paradise. FYoai an underlying standpoint, and re-gardi--s of public sentiment, the situation la steadily Improving Wages and production costs are being reduced. Many amateur economists fail to see how ultimate good can come from wage reductions, inasmuch as •/ means a enrt&tlmesit. of public buying power ! Paradoxical as it may sound. It means ; no such thing It means early restora- | ti-on of buying. High wage scales at present represent merely an aggravating Symbol of war-time prosperity. They are not being paid because Industry Is idlo. Labor on the farms is worthing hard at 50 cents to $1 a day. The in dostrial worker is out of a Job. althougb his acale may bo around a dollar an hoar. With a reasonable reduction in the scale the industrial worker gets busy and the consumption of raw products, acch as copper, cotton, wool. etc., begins to Increase The price of raw materials rlaes. and the producer of these products becomes a larger buyer of Industry's out pnt. In this way steps are taken toward * restoration of equilibrium between different groups, thus permitting unim peded flow of products from one class to another MONEY G ROWS IV ABC NOAN'CG. Another factor working gradually but * u rwly In favor of general Improvement is the growing abundance of money. This has come about partly from thrift and partly from the slowing up in business. New York City savings 1 aqk deposits now stand at 132 per cent, com pared with July. 1018. In times of depression people save. Thrift once more 1* initiating another cycle of prosperity As money begins to pile up it will be invested in safe securities I’eople wllr prefer the assured return to the haiard of enterprise. This Is reflected Id rising prices for bonds. Bnt as bonds begin to rise the Issue of more such se cnritles is encouraged and the proceeds from these sales begin to flow into Indnstry, which take* on new life Profit* begin to appear and confidence Increases. Before > know It we are in the midst of another period of activity. This la the almost automatic result of growing monetary ease. no matter whether this originates from thrift on the part of the public, or the slowing up in business. While this may be the natural course of the cycle there Is little doubt that Its course might be accelerated by such Incidental but helpful expedients a* the passage of the railroad funding LIU. which woald give an artificial, but nevertheless genuine, stimulus to industry. Ths financial atmosphere, however, will not be entirely cleared until the tariff and tax bills have been enacted Into law and wage readjustment a "have placed redaction costs on a sound basis. —Coryright. 1921. by Public Ledger Cos. TONE OF SATURDAY MARKET WEAK Bpeci*! to Indiana Daily Time* and Philadelphia Public Ledger. By MONITOR. NEW YORK, Aug. 22 -Total sales of Slightly more than 146.U00 shares tells ths story of ?atnrday's Intensely dull and uninteresting stock market. Because moat issues were practically motionless and the few which were active declined, the tone of the market might be termed Irregular, or even weak. The motors, especially. were under pressure. Pierce Arrow. common and preferred Studehaker Chandler and General Motors making new low records in some instances for all time and in others for the present movement. There was scarcely a sale in the railroad group during the last half hour. ! and each change* as occurred, while generally lower, were without algnifl- j eanee. United States Bobber and a few other lndutsrlals rallied somewhat at th.< close, on the covering of short con- j tract*. The evidence of liquidation in several issues rather dampened the ardor of those who favor the constructive side of the market. The foreign exchanges were dull and quotation* generally were about the levels which prevailed at Friday's close. The grain markets were lower, and cotton slightly higher.—Copyright. 1921, by Public Ledger Cos. WALL STREET GOSSIP BY MONITOR. Special to ludtana Dally Times and Philadelphia Public Ledger. NEW YORK, Aug 22—In a market of deadly dullness prices drifted lower, with weakness particularly noticeable In the shares of the motor car companies There was no news to account for this weaksoei. the technical position of the Individual stocks being largely respou stble for the decline. Pierce-Arrow, bote common and pre ferred. reached new low levels for all time on a reiteration of stories aa te the financial position in which the corporation find* Itself K*>ent liquidation has been accompanied by some professional ahort sailing and the covering of ties'

N. Y. Stock Exchange —Aug 20. Prew. High. Low. Close, close, ii Rum., pfd.. 35 85 S5 Allied Chemical 86% 36 80 M% Am. Agricult.. Sits 30% 81% Am. B Mag. Cos. 29'-* 29% *9%. .. Am Car * Fdy .121 120% 120% 121% A. H A L., com 10% 10% 10% 10% Am luter. Cor. 29% 28% 29% 29 Am. Linseed ... U 17% 17% W% Am. Loco S3 83 83 98% Am S A Re f 34% 34% 84% 34% Am. Sugar Ref. 02% 02 62 62% A. Su. Tob. Cos 43% 43% 48% 43% Am. Tel. & Tel 106% 105% 105% 105 Am Tob 118% 118% HB% 11% Am. Woolen 67% 66% 66% 67% Ana. Mlu. Cos. 34% 34% 84% 84% A. G. A W. 1 20 19 19% 30 Bald. Loco 72% 71% 72 72% B. * 0 37% 37% 87% 37% Beth Steel 8... 48% 47% 47% 43% Call. Petrol 82% 32% S'2% 32% fan. Pacific R .118% 118% 113% 114 fan. Leather 24% 24% 20** 25 Chandler Motor 48 41% 43 42% IC. & 0 53% 53 63 53% C„ M * St. P 25% 25 25% 26 C M A S P pfd 89 39 S 80% R. Is. A Pae. 81% 31% 31% 31% Chill Copper.... 10 9% 9% 9% Chino Copper .. 21% 21% 21% 219% Coca Cola 88% 82% 33 32% Columbia Gas 53% 53% 63% Colum Graph .. 8% 3% 3% 3% Continental Can 3S 34 38 38 Cos den Oil .... 24 23 % 23% 24% Corn Products . 65% 64% 65 65% Crucible Steel 54 52% 58 54 Cuban A Sugar 12% 12% 12% 13 Endicott 68 58 58 5S Erie 18% 13 13% 13% Famous Player* 5$U 52% 53% 62 Fisk Rubber Cos. 9 ' 9 9 9% Gen. Asphalt 43% 42% 42% 43% Gen Electric 111% 111 111% 111% Gen. Motors. ... 10 9% 9% 9% Gt. Northern p. 74 73% <4 74 Hupp Motors . 10% 10% 10% 10% Interboro Corn. S% 8% 3% 3% Invisible Oil . 8% 8% 8% 8% Inter Harvester 69% 69 60% 60% Inter. Nickel. 12% 12% 12% 12% Inter. Paper 42% 42% 42% 43% Island O A T. 2% 2% 2% 2% Kan City S 25 24% 24% 25% Kelly Spring T 37 36% 37 37 I.acaka Steel 37% 37% *7% 38 Lee Tire 24% Loews. Inc 11% 11% 11% 11% L. A N 10% 109% 109% M. A Ward .. 16% 16% 16% \!ex Petroleum. 92% 91% 91% 02% M. States Oil .. 11 10% 11 11 M. Steel 28% 23% 23% 23% Missouri Pae. . 19 19 19 19 N. K. A Sump 39% 38% 89 89 N. C. Copper ... 10 10 10 9% N. Y. Central .. .70% 70% 70% 70% New Haven ... 16% 16 16 16% Northern Pae. 75% 75% 73% 75% O. P. A R. Cos. 1% 1% 1% 1% Pacino Oil 35% 33% 35% 35% Pan. A P . 41% 41% 41% 41% Penna. Ry 38 37a* 87% 87% Pierce-Arrow .. 13% 12% 12% 13% P. Marquette ... 19 19 19 19% Pressed S C. 54% 54% 54% 56% P Pal. Car 91% 91 91% 91% Ry. S. Springs 72% 72% 72% 73% Pure Oil 24% 24% 24% 25 Reading 67% 67% 67% 67% R. 1. A Steel.. 46% 45 > 45 46% R. Dos N Y.. 47% 46% 47% 47 Sears Roebuck . 62% 62 62 % 62% Sinclair 17% 17% 17% 17% So. Pacific 77% 77 77% 77% Stand.O.N.lpfd .107% 107% 107% 10S St.L. A S.F.eom 23 23 23 23% Stndebaker .... 6S 66 66 % 68% Texas Cos 83% 33% 33% 33% Tot., Prod* 56% 36% 56% 56% Trana. OH 6% 6% 6% 6% 1 Dion Oil 17 17 IT 17% Inion Pacific .120 119% 120 120% U. R Stores. .. 48'* 48% 48% 48% r.S FP.P. Corp. 16% 16% 16% 16% United Drug... 53% #.3% 55% * 53 I S Indus. Alco. .361, 45 % 46 46 L. S. Rubber 46% 45% 46% 46% V. s. Steel 74% 73% 74 74 i.B Steel pfd. .109% 109% 1<9% 110 Utah Copper... 44% 44% 44% 41% We®-. Electric.. 40 39 % 4<> 30% W Overland . . 6% 6% 6% Wilson A C 0... 32% 32% 32% .... contracts has been about the only sup port in the market. Chandler Motors alao made anew low record for all time, but In this instance buying for the account of Interests identified with the company has been reported. Vague stories of delay In get ting rid of high inventory materials have been circulated during the decline Short covering resulted in a rally at the close The selling of Studebaker has been based largely on the knowledge of an over-extended long interest which has built up from the advance to 86 A con aiderable quantity of outside buying came into thi* stock above 80, when the tx months' report was made public. It is realized now that there remain* only the seasonal business in the fall on which to force an advance and the situation in the rest of the market has led many holder* to believe that they will save money by selling Stndebaker with the intention of repurchasing at a lower level. Little attention was paid In the street to the wage reduction announced t>v the Steel Corporation. It Is realized thi* Is another step in deflationary program, but It Is felt that further reduction* in file prices of the product* moat be made before a substantial upward movement will be in order. In some quarters It Is felt the general market may have turned definitely up ward before l nited State* Steel common reaches its low point. In the past a decline In steel usually has been forced for sentimental effect and In order to facilitate the accumulation of other stock* by speculative group*. Between May 3 and June 6, the speculative leaders had broken fifteen points or more, while United States Steel had declined only 5%. In the next three w#ks, however, steel brok nearly 10 points while the general list remained within comparatively narrow limits. This Is one instance cited in support of the original contention. The shorts In Famous Players bsve had an unpleasant time in recent market sessions An analysis of the stock by one of the leading economists has recoin mended Its sale, and thi result# din con stderable short selling There Is ei .•client reason to believe that the regular dividend will be declared In cash Monday. and on this announcement the accumulation to which reference ha-; been made will be distributed Only two shipments of gold were received today, one of s.<* from Eng laud consigned to Kuhn. Loeh and t'ompanv. and the other consigned to Brown Brothers and Company was ss<>.UtX) of Indian Minted Metal. The railroads did practically nothing In the market, largely dua to Indications of good selling which has bet-n in evidence in recent sessions. It was reported that the I'nion Pacific is about to reopen Its shops at Northplatte, Nebraska, which have ben closed for seven months. About 45 per cent of the old employees will return to work Recent reports of retail selling organ j lint ion* have not been favorable In line with those which have been issued covering July sales, that of the Jones Brothers Tea Company show a decrense of $542,598 and for the seven mouths' period a decrease of $1,821,848. The new organisation of the Maxwell Chalmers Company made public a finan ctal report showing, a* of June, cash In banks and receivables from the reorgan isation committee together with certificates of deposit $7,931 361 Inventory Is given as sl6 126.887 which Is about 40 per cent uuder that of the old company at this period last year. Current assets are given as $28,615,098 as against cur rent liabilities of $1.855 179 President Wilson Issued an optimistic statement ns to the future of the company. It 1* reported the French government ha* withdrawn the laat of its treasury bill* In this market. At this time last year there were approximately $60,0V.000 of these bills in New York. This re daetlon 1s In Hue w tb the policy of re during Its foreign indebtedness The statement of the clearing house banks disclosed no startling things. I ut Is favorable Loans and discounts de creased $39 049.000. Demand deposits de creased $1.887 000 and time deposits In creased $2,144,000. The Increase In time deposit liabilities evidently U respoual bie for the relatively alight increase in excess reserve, which flow totals sl6. 975.870 —Copyright, 1921, by Public Ledger Cos.

STOCK MARKET CLOSES WEAK Leading Rails Suffer Rig Losses in Final Hour. NEW YORK, Aug. 22 The stock mar ket closed weak today, weakness in the railroad shares being a feature of the late dealings. AU the leading railroad stocks were in supply', Northern Pacific falling over 3 points to 73%, while losses of from 1 to 9 points were suffered In Great North ern preferred. Southern Pacific, Reading, Chesapeake a Ohio, and Baltmore A Ohio. United States Steel yielded to 73%, while American Woolen at showed a loss of nearly 3 points Mexican petroleum rallied 1% points to 91%, and Famous Players recovered over 2 pouts to 62. Total sales of stocks were 443,790 shares; bonds, $10,839,000. <B* Thomson A McKinnon ) —Aug. 22 Another uav it declining values ba passed It has been marked in all re spects similar to the markets of a month ago or the markets of a veur ugo, ths only difference being a different level of vatnes and a little less violence, but a constant depreciation and at the moment there Is nothing to indicute a change in the character of the market or In sentiment. Business men have hoped from month to month for a change and the ouly change has been further contraction and depreciation We have been inclined to look hope fully to the store be-ante of the promise of good things from Waahington, bnt weeks bare passed and months have passed ad while there la no doubt bnt that In lime much good will be arcotu pllshed nerertblefcs, up to the present time no one can point to a solitary accomplishment. TWENTY STOCKB AVERAGE. NEW YORK, Aug. 22.—Twenty industrial stocks Saturday averaged 65.0 u. off .26 per cent. Twenty active rails aver aged 72.15, off .14 per ceut. CLEARING. HOC SE STATEMENT. NEW YORK. Aug 22.—Exchanges. $24.800.006; balance, $5i.000.000. Federal He serve Bank credit balance, 819.000.000, Money and Exchange Indluoapoils bank clearings Monday were $2,406 000, against $2,575,000 for Mon day a week ago. NEW YORK CALI, MONEY. NEW YORK, Aug. 22 Money—Call money ruled .3% per cent; high 5% per cent; low. 5% per cent. Time rale* steady all 6®6% per cent. Time mercantile paper steady. Sterling ex chauge was quiet, with business in bank ers' bills at $".63% for demand. NEW YORK. Aug. 22—Foreign ex change opened weak with demand sler ling %c lower st $3 HS'V Francs yielded 2 centime* to 7 72c for cables aud 7.71 c for check” Lire cables were 4 20%r; check*. 4.19 1c Belgian franc cable* were 7.57 c; checks. 7.58 c Guilder cable* were 31.02; check*. 31c. Sweden kronen cable* were 21.48 c; check*. 2143 c. Marks were 1 13 %c. ACT 13 E OIL STOCK*. ißy Thomson A McKinnon . i —Aug 22 - -Opening— Bid Ask Anglo American Oil 15 15% Atlantic Refining 12 13 Bor-e Serymser 345 360 Buckeye pipe Line... 82 84 Ohesebrough Mfg. Con* 125 175 Continental Oil. Colorado.. 107 111 Oosden Oil and Gas 5 6 Crescent Pipe Line 26 28 Cumberland Pipe Line 115 120 Elk Baaiu Pete 5% 6 Eureka Pipe Line 75 79 Galena Signal Oil. pfd 85 SKI Galena Signal Oil. com .. . . 33 ' S3 Illinois Pipe Line 1.30 163 Indiana Pipe Line 77 80 Merritt Oil 7 7% Midwest OH 2% 2% Midwest Rfg f 135 142 National Transit 26 27 New York Transit 145 1.30 Northern Pipe Line 87 90 Ohio Oil 245 248 Oklahoma P A R 3% 3% Osage Hominy % Penn Me* 18 20 Prairie Oil and Gas 420 430 Prairie Pipe Lino 180 190 Sapulpa Refg 33% Solar Refining 335 340 Southern Pipe Line 77 SO South Penn. Oil 177 INI Southwest Penn. Pipe Lines 65 60 Standard Oil Cos. of Ind 60 til% Standard Oil Cos. of Kan 725 740 Standard Oil Cos. of Kan , . 375 385 Standard Oil Cos. of Neb.. 150 160 Standard Oil Cos. of N Y .. 317 320 Standard Oil Cos. of 0hi0.... 370 .381) •Swan A Finch 30 35 Vacuum Oil 24u 250 Washington Oil 25 30 MOTOR SECI KITIKS. ißy Thomson A McKinnon.) —Aug. 22 t 'losing Bid. Ask. Briscoe 9 10 Chalmer*. com IS Packard, com , 6 7 Packard, pfd 62 64 Chevrolet 100 400 Peerless 24 30 Continental Motors, com 5% 5% Continental Motors, pfd ... . 7.3 80 Hupp, com 10% I Hupp, pfd . 85 90 Reo Mator Car 18 18% Elgin Motors 4 4% Grant Motor* 2 2% Ford of Canada 240 215 National Motors 5 8 Federal Truck Hi 18 Paige Motors 15 16% Republic Truck 7% 9 NEW YORK CRB ißy Thomson A McKinnon i Aug. 20— ClosingBid Ask Curl is Aero com t 3 Curtis Aero pfd 15 Texas Chief 8 12 ; Imp Oil 7% 8 | First National Copper 75 85 i Goldfield Con 5 7 { Havana Tobacco I 1% Havana Tobacco pfd 4 6 Central Teresa 1% 3 1 Jumbo Extension y... 4 6 International Petroleum . . 10% 10% N'iplsslng 4% 4% Standard Motors .3% 4% Salt Creek 10% 10% Tonopab Extension 1 1% Tonopah Mining 1% 1% United V. S., new 1% 1% 11. S. Light aud lieat 1% 1% U. S Light and Heat pfd.. i% 2% Jerome 15 17 New Cornelia 12 13% United Verde 22 23 Sequoyah 10 12 Omar Oil 10 16 1% Rep. Tire 10 20 NEW YORK LIBERTY BONDS. Aug. 22 High. Low. Close. Close. Liberty 3%s 88.68 88.30 .88.34 88.C0 l.iberlT Ist 4%s 87.86 87.72 87.86 87.88 Liberty 2d 4%s 87 70 87.60 87 68 87.68 Liberty 3d 4%s . 91.90 91,80 91.86 01.92 Liberty 4th 4%s 87 96 87.86 87.80 87.02 Victorv 4*4* 08.74 08.68 08.74 98.74 Victory 434a ... 08.74 0.8.68 98.74 05.74 CHICAGO STOCKS. IBy Thomson A McKinnon.) —Aug. 20. Open. High. Low. Close. Carbide aud Carbou 43% 4.3% 43% 43% Libby 8% National Leather .. 7% Sears Ri-ebuck .... 62% 62% 62 62% Stewart-Warner ... 22% 23 22% 22% Swift A Cos 96 Swift lutemaiiinal 23 NEW YORK RAW SUGAR. NEW YORK, Aug. 22. —Trade in rawsugar was rather dull on the market here today. Bubas sold at 4.86<- per pound, duty paid, while Porto Ricos were quoted at *.50 per pound, delivered. NEW’ YORK REFINED SUGAR. NEW Y’ORK, Aug. 22.—Refined sugar pri<”*a were about steady today, -with trade extremely dull. Flue granulated was quoted at 6<g 16c per pound aud No 1 soft at 5 00®6.15c.

INDIANA DAILY TIMES, MONDAY, AUGUST 22, 1921.

New Y/rk Boijds f (By FletuLer American Cos.) —Aug. 22. FOREIGN GOVERNMENT BONDS. Bid. Ask. Arg. (Unlisted), 5, Sept. 1, '45 6t> 06 Belgian, 8, Jan. 1, '26 04% 94% Belgian, 7%, June 1, '45.. . . .101%, 102% Belgian, 8. Feb. 1, '4l 100% 101 ♦Belgian Rest, 6. Opt.. ‘34... 66 70 Berne, 8, Nov. 1, '45 09 99% Chile. 8, Feb. 1, '4l 99% 90 Chinese (H. Ry.), 6, June, '6l 47 47% Christiania, 8, Oct. 1, '45.... 99 5*1% Copenhagen, 5%, July 1, '44... 78% 78% Danish Man. 8, Feb. 1. '46 100 loi Denmark, b, Oct. 15, ’46 101% 102% •Canadian, 5%, Dec. 1, ’22.. . 88% 80% •Canadian, 5%. Nov. 1. ’23... 87% 80 •Canadian, 6%, Nov. 1, ’24... 86% 87% •Canadian 5, Dec. 1, ’26 84% 86% Canadian. 5 Apr. 1, '20.... 82% 03 •Canadian. 5%, Dec. L "/? 80 68% Canadian, 5%, Aug. 1, "29. ... 96% 96% Canadian, 5, Apr. 1, '3l 89% 90% •Canadian, 5, Oct. 1, '31.... 88% 84 •Canadian. 6%. Nov. 1, '33 ... 87 88% •Canadian, 6% Nov. 1, '34 ... 84% 85% Canadian, 6, Mch. 1. 'B7 86 87 •Canadian 6%, Dec. 1, '37.... 88% 89% •French (Viot.), 6, Opt. ’31.... 64) 69 •French, 4, Opt., ’43 47% 46% •French (Prem.) 6, Issue ’2D 70 71% •French, 6. Opt., ’Bl 72% 74 French. S, Sept. 15, '45 09% 100% •rtaliau (Treas.) 5, Apr. 1, '25. 41% 43% •Italian (War) 6, 81% 33 Jnp (First) 4%, Feb. 15, '25. 86% 86% Jap (Second) 4%. July 10. '25 86% 86% Jap. 4, Jan. 1, '3l 71% 72 Norway. 8, Oct. 1, '4O 153 168% Paris, , Oct. 16. '9l. 90% 100 Russian, 6%. June 18, '19... 15% 17% Russian. 5%, Dec. 1, '2l 14% 19 •Russian. 5%, Feb. 14, '26.... 6% 8% b*o Paulo, S, Jan. 1, '30.. .97 % 98% Rwediab, 6, June 16 'B9 80 86% vlu. 5%, Aug. 1, '39 86% SB Swlsa, 8. July 1, '4O 106 106% U. K. 5%, Nov. 1. "21 90% 100 U. K 5%, Nov. 1. “22 98% 90 U. K, 6%, Aug. 1. 29 89 60% C. K. 5%, Feb. 1, '37 86% 87% *l. K. (Victory) 4, Issue 19.272 287 •C. K. (W. L.) 5. Oct. 1, '22 .803 381 •U. K (W. L.) 5. Feb. U '29 . 850 370 Zurich. 8, Oct. 15, '45 00% 100% Brazil, 8% 00% 99% French. 7%, 96 06% •internal Ix>ans. CORPORATVON BONDS. Bid Ask Alum Cos. of A 7s, Nov , 23 07% 98% A, Cotton Oil 6*. Sept. 2, '24 . 90% 01% Auier. Tel. 6s. Oct.. '32. ■ 98% 09% Arner. Tel- 6s. Feb . '24 ■ 08% 98% Ainer Thread 6s, Dec., 28 . 06% 97% A liter. Tob 7s, Nov.. '22 100% 100% liner Tob 7s. Nov , '23 100% 101% Anaconda 6s, Jan., '2O 88% 80% Anaconda 7*, Jan., 20 03 % 03\ Anglo-Ainer. OH 7%, Apr.. '25 100% 100% Armour 7s, July 15, 30 os% 98% Atlantic Ref 6%5. M.-h,. '3l .101 101% Bell Tel. of Can. 7s. Apr , '25. . 96 97% Beth. Btel 7s. July 15. '22.... 097), 100% Helb. Stele 7s. July 10. '23 08% 08% Can Pac. 6s, M.-h. 2, '24 #7% 08 Cent. Arg. Ry. hs. Feb.. '27 83 84 C. r K l A P 6s. Feb. '22.... 98% 00% Con. Gas Ba. Dec, '2l 100% 100% Copper Exp Bs, Feb. 16, '22. .100% 101% Copper Exp 8, Feb. 15. '23 100% 101 Copp.-T Exp B*. Feb. 15, '24 .100% 101% Copper Exp Bs, Feb. 15. '25. 101% 102% Cudeh.v 7s. July 15, '23 98 % 09% Fed. Sugar 0 Nor, '24 ... 95% 00% Goodrich 7s, Apr.. '25 90% 90% Gulf Oil 6s. Julv. US 96% 97% Gulf Oil 7*, Feb., S3. 97% 07% Hocking Vst 6*. Mch., '24 94% 95 Humble Oil 7s. Mch 15. 23 . 95% 185% Int R. T 7s Sept.. 21 . 84% 77% K C Term 6*. Nov. 15. '23 98 08% Kenn Copper 7*. Feb. '80... 02% 93% Uai-lede Gas 7*. Jan, "29 . 00 % 91% l.lg A Myers a*, Dec. ’2l 100 100% Pbila Cos 6*. Feh "22. . ..100% H>o% Proctor A G. 7s. Mch . '22 100% I<>o% Proctor A <5 7s Mch "23 l'*>% 101% Pub Ser N J 7s. M.-h . "22 96% 00% R J Reynolds 6*. Aug . '22 99% 100% Scars Roebuck 7*. Oct. 15. '2l 99% i"O% Sear* Roebuck Ts, Oct. 15. "22 98 s * 98% Sears Roebuck 7s. Oct. 15. '23 07 % 07% Sinclair 7%5, May 15. '25 91 91% Solray A Ole Ba, Oct.. "27 .. SS% 99 Southern Rv. 6s. Mcb . '22 . 07 97% S, W Bell tel. 7s. Apr . '25 . 96% 01 % Stand OH (Cal l 7*. Jan '3l 103% 103% S O <N Y > 7* Jan . '25-'3l lirj im% St. Paul U D 5%a, Dec 15. '2B 97 97% Swift 7*. Oct. 15. "23 . 97 % 97% Texas Cos 7, Mch. 1, 23 00% 100 t tah Sec. 6”. Sept 15. "22 91% 02 Waltham Watch 6*. Aug . '24 Ml 89 Western El 7*. Apr.. -5. 100% 100% Westiughouse 7s. May, '3l. 101% 101 % Local Stock Exchange —Aug. 22. STOtKS. Bid Ask. Ind. Ry A I.ight com 60 ... Ind Ry. A I.ight pfd 70 Indpls A N W pfd 75 IndpU. A S K. pfd.. 75 Indpl*. St. Rv 32 41 T. T. I A I.ight pfd 75 Terre Haute, 1. A E. com 4 Terre Haute, 1. A E pfd 12 F K of Ind. com I I T. of Ind Ist pfd 7 U T of Ind 2d pfd 2 Advance Kumely coin 11% Advance Kumely pfd 34 Ameriian Central I.ife 235 Am. creoaoting pfd 88 Belt R. R. com 52 62 Beit It. It pfd 42% 50 Century Bldg Cos. pfd. ... 90 Citizens Gas Cos 25 30 Dodge Mfg. Cos. pfd 89% Horae Brewing 54 04 Indiana Hotel com 60 Hid Hotel pfd 93 Ind. Natl. I.ife In*. Cos 3% Ind. Title Guaranty Cos 59 I nr. Pipe I.lne 76 82 Indpls Abattoir pfd 40 50 Indianapolis Gas 42% 50 indpls Tel. Cos. com 2 Indpl* Tel. Cos. pfd 90 Mcr Pub. Util, pfd 40 Natl. Motor Car Cos 8 Pub Sav Ins. Cos 4 ... ttauh Fertilizer pf'l 40 ... Stand. Oil of Indiana US 71 Sterling Fire Ins Cos 7% 8% Van Camn Hdw. pfd 90 100 Van Camp Prod. i*t pfd 100 Van Comp Prod 2d pfd. 100 Vanda lin Coal Cos pfd 8% Vanilalia Coal Cos. com 3% Wabash Ry com 7 Wabash Ry. pfd 20 ... BONDS. Broad Ripple 5* 50 Citizens St. Ry 55.. 65 75 Ind Coke A Ga* 6* 100 lndiun Creek Coal and Mine . 100 Indpls.. Col. A South 5s ... 88 Indpl* A Martinsville 55.... 42% Indpls A Northern 5s 36 40% Indpl*. A N. W. 5s 45 Indpls. A S. E 5s 45 Indpls. S A S. E. 5s 70 Indpls. St. Ry. 4s 47% 54 Indpls. T. A T. 5s 67 74 Kokomo, M A YV. 5s 74 ... T. 11. I A. E. 5s 43 V T. of Ind. 5s 40% ... Citizens Gas Cos. 5s 74 70 Indpls. Gas Cos. 5s 71 70 Ind, Hotel Cos. 2d 6s 93 Indpls. Fight A Heat 55... 73% 77 Indpls. Water 4%* 6*l 75 Indpls. Water 5s 86 00 Mer. II A L. Ref Bs 85% ... New Tel. Ist 6s 04 New Tel. Uong Dist 65.... 03% ... Southern Ind. Power 6s 100 LIBERTY BONDS. Liberty loan first 3%s 88 10 88.50 Liberty first 4%s 87.56 88 10 Liberty second 4%s 87 44 87.94 Liberty third 4%5. ✓ 9t.6‘2 92.06 Liberty fourth 4%s 87.60 88.08 Victory 3% s 98.54 90 00 Victory 4%s 98.52 99.00 WHOLESALE FEED PRICES. lon Cwt. Acme Bran $22.00 $1.16 Acme Feed 22JCG 1,13 Acme Midds 25.00 1.30 Acme Dairy Feed 30.50 2.00 E-Z-Dairy Feed 32.00 1.65 Acme II A M 29 50 150 C. O. A B. Chop 24.50 1.30 Acme Stock Feed 24.50 1.30 Acme Farm Feed 27.50 1.45 Cracked Corn 28.50 1 45 Acme Chick Feed 39.00 2.00 Acme Scratch 35.75 1.80 E-Z Scratch 31.50 1.60 Acme Dry Mash 41.00 2.10 Acme Hog Feed 38.76 2.00 Ground Barley 35.50 1.85 Ground Oats 27.25 1.40 Ilomllck Yellow 27.25 1.44) Rolled Barley 37.00 1 90 Alfalfa Mol 33.00 1.70 Cottonseed Meal 52.00 2.65 Linseed Oil Meal 52.00 2.65 Acme Chick Mash 44.00 2.25 FLOUR AND MEAL K-Z-Bake bakers’ flour in 98-1-b. cotton bags. $7.40. Corn Meal in 100 Ib. cottoq bags, $1.75.

SWINE VALUES AGAIN GOJLOWER Continued Dullness on Cattle Market—Veals Strong. RANGE OF HOG PRICES. Good Good Good Au*. Mixed. Heavy. Light. 15. $10.26® 10.50 $9.76(8)10.00 $10.75 16. 10.00 10.25 9 50@ 9.75 10.60 17. 9.508M0.00 2.254? 9.50 10.25 18. 9 15® 9.65 8.75® 8.85 9.90 19. 9.40® 990 9.00® 9.10 10.25010.35 20. 9.16® 9.70 8.75® 900 9.90®10.00 22. 9.00® 9.25 8.50® 9.00 9.50 With close to 0,500 fresh receipts, large receipts on other hog markets of the country, local packers showing only a fair demand and no demand to speak of from shippers with Eeaatern house connections, swine prices were 25 to 50 cents lower on the local live stock exchange today. There was some delay in hogs moving, due to the tendency of moat of the com missiou men to hold their consignments for better prices than were offered. However, after the long delay, they finally accepted the schedule offered by loca' packers aud there was a fair tone to trade. It was estimated that there would be close to 1,600 swine held on the market for the trade of the following day, unless some unusual buying activities were started. There was a top of $9.75 on light swine, while the bulk of that grade brought $9.50. Mixed and mediums brought $0(fi0.25 and heavies, $5.506r,9 Pigs sold at $8.50 and down aud roughs at $f and down. The bulk of the sales ranged at s9<g9 50. The schedule upon which local packers bought bogs follow*: Hogs weighing 160 to 225 pounds, $9.50; 225 to 250 pounds. $9 25 ; 250 up to 300 pounds. $9; extreme heaviea, $8.50(3.0. There era* a continuation of the dnllnees of the past days on the cattle mar ket. with receipts fresh and stale, close to 1.200 and a poor grade of cattle on the market. Buyers were bidding 25 to 50 cents lower on practically all grades of cattle and did not seem anxious to take many at the lower bill*. Up to late hour In the forenoon but few cattle had moved and a poor clearance for the day wa* anticipated Large receipts on the western markot at this time, as well as a lull In the trade of high priced beef cuts, were said to be the principal market influences. YVith betw-een 300 and 400 calves on the market and a fair demand by both local conce. ns and shippers with Eastern house coni' tlons, prices were strong to 50c big! Th. re were but few really choice veals on the market and the strictly good veal* brought the same prices that were paid for choice stuff on the market of the previous day There whs a’ top of sll and an extreme top of sllsO There were close to 44X1 *hep and lambs on the market and prices were steady. HOGS. Best light hogs. 100 to 2UO lbs average $ 9 Wa 9no Over 300 lbs 8 2.V 8.75 200 to 300 lbs SW(J 925 Sqws . . 6.so tef 7.>M) Stags 5 50 <H 6.50 Best pig*, under 140 lbs S.OO'g sSO Top 9 75 Bulk of sale*. 9 00(® 9 50 4 ATTI.E. Prime cornfed steers. 1,300 to 1,800 lbs 5.254 U 0.28 Good to choice ste.-r*. 1.200 t<> 1,300 lbs 6.254? 6 75 Good to choice steers, I.l'X) to 1.200 lbs . .5 50®. 625 Good to choice uteers. 1 AXK> Common to medium steers, 800 to 1,000 lbs 5 Ouoi 6.00 —Heifer* aud Cow*— Good to choir# heifers 7 754) -25 Medium heifers . ... . ... 6 s)'ij 725 Common to good heifers .. . 6 ootu 6.50 Good to choice rows * .... 4 tßi 500 j Fair to medium cows 2.504? 3.00 | Cutters 2 tk)4l 3 (Hi fanners 7541 2 Oil -Bulls—ilood to choice butcher bulls 3.4X1® 5.50 Bologna bulls ...... 4 (Xk<( S.(MI Light bologna bulls 3.500/ 400 ’ I.ight to common bull* 3,00% 3.50 j , —Calevs— Choice veals 10.504(1150! Good veals ft 004/10.4X1 I Medium veals .. . 8 isop. ouo Lightweight veals 6 04)4) 7 54) Common heavyweight veals . .5 su 6.7a) -Stockers and Feeders— Good to choice steers, under Btx lbs 5.4X1® 600 Medium cows ... 24)0.'ti 300 Good cows 3 (Si'o 4 4s) (jood heifers . 6.5041 700 Medium to good heifers N 4.t*)'i/ 5.4X1 SHEEP AND LAMBS. Ewes 25414/ 3.50 Bucks . . . I fiOftt 250 Choice ewes and wether lambs S.so® 10.00 Seconds 6.00(<i 04X1 Buck lambs 6.50®. 7.4X1 | Cull lambs 2 004/ 5.4XC Other Livestock CHICAGO, Aug. 22. Hogs Receipts. I 44,X>: market mostly 54)®.-7.4c low er ; bulk. $9.35410 50. top. $9.75; heavyweight. f'H 0; medium weight. $8.75®0 50: light ' weight, $9,104)9 50; light lights. $04)9 35; heavy packing sons, smooth. $7 254)7 75; ; packing sows, rough. $74)7.25: pigs. >'4/ 9 26. Cattle Receipts. 21,4X10: market slow and mostly 154i.25c lower; beef! steers, chop e and prime. $9.604a 10 50; me (Hum and good, $0.75t(?9.00; good and- - $8,254/10 30; common and me- I diurn. $5.25448.25; butcher cattle (heifers).! $3.254/8.60; cows. $5.5414) 675 ; bulls. $3.75 | 480.75; banners and cutters (cows and I heifers), $241,3 50; runner steers, $2,754? 3.75; veal calves 1 light aud handy weight 1. I $7.50410.25; feeder steers. $5,504) 775 Stocker steer*. $441(1.75; storker cows and heifers, $2.50445 50. Sheep Receipts. 29,(XX); market. 2.54/S(N- lower; lambs <*>4 lbs. down), $8.25® 10.50; culls and cam man. ?s©B; yearling wethers, f0.254/8.20 ; ewes, [email protected]; ewes culls and com moui. $1 50@3; breeding ewes, $,"..504/;, feeder lambs. $0.50®8.50. CINCINNATI. Aug. 22 -Hogs Re ceipfs, 5,400; market, generally 25 ceuts lower; heavies, $9.50® 10; mixed, mediums and lights, $10.25; pigs. $9.50; roughs. $7; slugs, $5.50. Cattle Uei-ehits. 3.200; market, slow and weak: bidding. 25 to 50 ceuts lower; calves, $lO. Sheep and; lambs—Rec*vipts, 2.200; market, steady: ewes. $1®4.50; bucks. $2.50; choice ' lambs. $11.75; seconds, $7; culls. $34/3.50 : CLEVELAND, Aug. 22. Hogs lie i-eipts. 4.800; market. 40®65c lower: york ! ers. mixed and mediums. $10(@10.H5; pigs.; $8.50; roughs, $7 ; stags. $5. Catlie - He- I oelpt*. 750; market lower; good to choice Steers, sß® 9.25; good to choice heifers.; s6®:6; good to choice cows, s4®s; fair to good cow s, 114/5,50: bulls, s3® I; milk ers. $354875. Sheep and lambs Receipts. 3IX); market steady ; top. $10,50. Calves Receipts. WX); market. sdo higher; top. $2.50. EAST ST LOI IS. 111.. Aug. 22.—Hogs Receipts, 9.000: market. 5<)4i75c lower, mixed aud butchers. $9.50(g9.85; good heavies, $04(9.50; roughs. $0.254/7.25; lights. $9 754/10: pigs. sß® 9.75: bulk of sules, $9.40489 75. Cattle Receipts. 7,tXX>; market prospects lower, .Sheep and lambs Receipts. 4,500; market prospects lower. PITTSBURGH. Aug. 22. Cattle—Re celpts. 210: market, strong; choice. $8.75 4(9.25: good. SB4/8.50; fair, SB4/8.25: veal calves, sll4/1.50. Sheep and lambs -Receipts. 20dd; market, steady; prime wethers. $5.254*5.501 good. $1,504/5; mixed fair. $44/4.50; spring lambs, $10,504/11. llogs Receipts, 50dd ; market lower; prime heavies. $0,254/9.50: mediums. $lO 50 1 4/10.75; heavy yorkers, $10.5041,10.75:1 light yorkers, $9.504i10; pigs, $i)®9.25; I roughs. $0.50®7.50: stngs. $54/5.50. EAST BUFFALO. N. V., Aug. 22.—Cattle —Receipts, 4.(XX); market. 254?75c lower; shipping steers. [email protected]: butchers' grades. $8@950; heifers, $5.50®7.50: cows. $1.50®6; bulls, $3.25®,6; milk cows, springers. slo®l3o. Calves Receipts. 2,100; market active and steady; culss to choice. $54/112. Sheep and lambs- Receipts, 10,000; market active aud lower; choice lutubs. [email protected]; culls to fair. [email protected]; yearlings. so@7; sheep. sl®6. Hugs Receipts. 14.400: market active and 50@75e lower: corkers. $lO4/10.15; pigs. s9® 9.50; mixed, [email protected]: heavies. $9.73 @10; roughs. [email protected]: stags. $4,504/5. TOLEDO SEED PRICES. TOLEDO, Aug. 22. —Uloverseed -Cash. $13.15; October, $13.15; December, $13.15 bid; February, $13.20; March, $13.15: Alsike—August. $10.05; October. $10.30: December. $10.40; March, $10.50 bid; Timothy— Cash. $2.00, September, S2.SO bid. October. $2.75; December, $2.75; January. $2.75.

Weather The following table shows the state of the weather at 7 1. m., Aug. 22, as observed by United States Weather Bureaus : Station Bar. Temp. YVeath. Indianapolis, Ind.. 80.18 61 PtCldy Atlanta, Ga 30.04 76 Clear Amarillo, Texas 30.04 60 Clear Bismarck, N. D 29.84 02 (Tear H Boston, Mass 30.16 64 Clear Chicago, 111 30.24 64 Cloudy Cincinnati, Ohio 80.20 64 Clear Cleveland. Ohio 80.20 58 Clear Denver, Colo 29.90 04 Clear Dodge City, Kas... 29.00 (18 Clear Helena, Mont 30.02 54 Clear Jacksonville, Fla.. 80.00 76 Clear Kansas City. M 0... 80.00 68 Cloudy Louisville, Ky 30.18 68 Clear Little Rock, Ark ... 80.08 74 Clear Los Angeles, Cal 29.94 64 Clear Mobile, Ala 80.00 80 Clear New Orleans, La... 30.00 82 (Tear New York. N. Y 30 16 66 Clear Norfolk, Va . 30.12 72 Clear Oklahoma City 30.02 72 Clear Omaha, Neb 29.90 68 Cloudy Philadelphia, Pa... 30.16 04 Clear Pittsburgh, Pa 30.22 60 Clear Portland. Ore 80.10 62 Clear Rapid City. S. D... 29.90 70 Clear Koseburg, Ore 30.08 50 Clear Bau Antonio, Texas 30.02 76 Clear San Francisco, Cal. 30.00 54 Cloudy St. Louis, Mo 30.12 66 PtCldy St. Paul, Minn 80.10 60 Clear Tampa, Fla 20.98 78 PtCldy Washington, D. C... 30.18 62 Clear WEATHER CONDITIONS. Aside from a few showers In parts of the upper Mississippi Valley, the Southwestern plateau, and ttie western Canadian Provinces, the weather has been generally fair. It is warmer from the middle plains sections northward, and cooler to the westward aoross the northern Rockies. J. H. ARMINGTON, Meteorologist, Weather Bureau. CORN AND WHEAT BULLETIN. For the twenty-four hours ending at 7 a. m . 90th meridian time, Monday, Aug. 22, 1921: ITemper-l I a lure. | B 1 —•— ie* e Stations of ►. _ re* Indianapolis i*. ■£ : 2 *f _5 H District J| || 5,i s| l i ill! fit South Bend 73 I 53 i 0 Good Angola 74 40 0 ' Good Ft Wayne 72 52 0 Whestfieid 70 48 0 Good Royal Center j 72 52 0 Good Marion 70 52 0 Good Lafayette j 76 54 0 Good Farmland 77 46 0 Good Indiana polls .... 175 53 0 I Good Cambridge City . 78 47 0 j Good Terre Haute ; 78 56 0 Fair Bloomington ... 85 52 0 Good Columbus 85 57 0 F.migh Vincennes 86 58 0 i Good Paolt 82 36 0 ; Good Evans* ille 84 62 0 i J. 11 ARMINQTON, Meteorologist. Weather Bureau. In the Cotton Market NEW YORK. Aug 22.—The steadiness of the opening of the cotton market this morning was chiefly a reflection of continued dry. hut weather in the'Southwest. After opening 6 to 12 point* higher, the market continued firm, and at the end of the first fifteen minutes was about 14 points over the previous close. Now York opening cotton: October. 13 15. November. 13 30c Idtl ; December. 13 55c. January. 13.00 c; March 13.78 c; May. 13 S'c bin; July, 1395 c bid. General buying caused a good rally in tli* lasi hour. The close was strong at 1 net advance of 36 to 50 poiuts. COTTON FUTURES. Open. High. Low. Close. .1 tnuary 13.60 13.99 13.00 13.00 March 13 78 14.07 13.78 14.10 May 13.00 14.13 13.90 14.18 July • 1 ..her 13.15 13.62 13.13 13 58 December 13.55 13.05 18.53 13.92 LIVERPOOL. Aug 22. Spot cotton opened quiet today Prices were steady and Sales 5,000 bales. \meriiaii middlings fair 11 (Mid; good middling. 9 30d : fully middlings. 5.90<1 ; middlings. 8 00(1; low middlings. T.7od; good ordinary. tt.7od . ordinary, 5.93d. Futures opened quiet. State Crop Report Continued cool weather with fair to good showers in all sections of the State have materially helped all growing crops during the past week. More than the usual amount of fall plowing has been don# due to the favorable condition under which the work is being done. I.ate corn continues to show some Improvement, but generally the crop is finish* and and some fields are beginning to dent. The yield will depend to a great extent on the rain fall during July Barren stalks are plentiful in most fields, although considerably more than half 'h# stalks have good ears *'out limed cool weather and good showers have been very beneficial to late potatoes and truck * reps Sweet pniatop* are fair to good in the commercial dls triets. Pastures show considerable improvement over lust week ami are of better feed value. Alfalfa is considerably itu proved, with the late cutting as good as the first. Tobacco continues to Improve with the cooler weather, but will make only about ha!* a crop. Grapes continue fair. There are no peaches to speak of. Pears lire very poor. Apph ■ w ill make about one fourth of a i-ropt. but the quality will be nothing extra. All live stock Is in good condition, with (h* exception of a few scattered cases of jdiik eye In cattle and horses. A fairly good yield of melons is being harvested and the quality is the best In several years. CHICAGO PRODUCE. CHICAGO, Ang. 22.—Butter Receipts, 11.972 tubs; creamery extra. 38c; firsts. 33@86%r. packing stock. 22@24e. Eggs— Receipts, 10.918 eases; current receipts, 28/a29c : ordinary firsts, 24@27c : firsts. 20 t)i3lc; checks. IS® 19c; dirties. 15®21c. Cheese Twins (new). 18%®T$%c; Daisies. 18@18%c; Young Americas. 19% ®-19%c . Longhorns. 20%@20%e ; Brick. 2f)%<H2l%c Live poultry Turkeys, 35c; (Tiickens, 22c: springs, 26c; roosters. 15c: geese, 20c; ducks, 26c. INDIANAPOLIS PRODUCE. l%gs Loss off. 28®30c. Blitter Packing sto.-k, 17@19c. Poultry—Fowl. 20® 25c; springers, 22@27c; old hen turkeys. 25@30<-; old tom turkeys, 20@25c; cull thin turkeys, not wanted; ducks, 4 lbs. und up. 15 a 16c; spring ducks, 3 lbs and up. 10@TVe; geese. 11l lbs and up. 9@tlc; squabs. II lbs. to tlie dozen, $5. Butterfat—Local dealers are paying 13 cents per pound for butterfat delivered In Indianapolis. Butter—Local dealers are paying 43@ 44c per pound for blitter delivered tu Indiana polls. CLEVELAND PRODUCE. dJ.KVRI.AND, Aug. 22.—Butter Extra, in tubs. 45 %@ 40 c ; prints, 40%@47c; extra firsts. 14%@45c; firsts, 43%@44e; seconds, 33%@35c; packing stock. 17@19c. Eggs Fresh gathered, northern extras. 40c: extra firsts. 39c; Ohio firsts, new cases. 35c; old cases, 34c; western firsts, new cases, 35c. Poultry—Live heavy fowls, 20@27e; light fowls. 20®22c; roosters. 15@16v; broilers, 25@30c; live spring ducks, 26@27e. WHOLESALE BEEF PRICES. The following are today's wholesale prices for beef outs as sold on the Indianapolis markets: Ribs —No. 2,21 c; No. 3.17 e. Loins — No. 2. 22c; No. 3. I.Bc. Rounds—No. 2, 20c; No. 3,17 c. Chucks—No. 2,10 c; No. 3, Be. Plates—No. 2. 7c; No. 3,6 e. NEW YORK COFFEE. NEW YORK. Aug. 22.—Coffee was easy on the market here today, with opening options 6 to 8 points lower. Rio No. 1 on spot sold at 7 @7%c per pound. BROKERAGE FIRM FAILS. NEW YORK, Aug. 22.—The failure of Trippe and Company, stock brokers, was announced from the restrutn of the New York Stock Exchange this morning. NEW YORK MET .L MARKET. NEW YORK. Aug. 22. —Copper—Dull; spot, August and Ser/ember offered, 11%; October, ll%c. Le~d—Dull; spot, August aud September, 4%c. Spelter—Dull; spot and August 4.20 c; September, 4.25 c.

GRAIN PRICES SUSTAIN GRAIN Speculative Element Reenters, Causing Upward Turns. CHICAGO. Aug. 22.—Grain prices went hivher on the Chicago Board of Trade today, due to the professional element, Uocuiant for several days, re-entering the market. Slight gains were registered In most grains. Provisions were lower. September wheat opened at $1.16. up l%c, and closed lc higher. / cerabet wheat opened off %c at $1.15 and Closed up B%e. September corn opened op %c at 52c and closed up l%c. December corn opened at 63c, up %c and closed up l%c. September oals opened up %c at 350 and closed unchanged. December oats opened up %c at 36%c and closed %c higher. (By Thomson 4 McKinnon.) —Aug. 22Wheat—There has been a revival of export demand and the attendant buying of futures in wheat, but, outside of this the demand has again been poor: in fact discouraged holders have been liquidating. The entire tone of the market was changed towards the last by go unexpected decreased In the visible supply. In tha face of general pessimism and the consequent small investment demand, the action in wheat recently has really been gratifying to believers In higher prices, although It Is true that prices have de cllnad. It is gratifying for the reason that the movement from first hands to primary markets has been double that of last year and especially of record proportions. Total primaries since July 1, have been around 115,000,(XX) bushels while the exports during the same time have only been 85,000,000 bushels thus showing an excess of immediately available wheat It is commonly believed that the free telling by the producer has been due to money stringency, therefore, the contemplated legislation In Washington, which ts expected to place one billion dollars to assist marketing the crop will in all probability stop the liquidation on the part of the producer now going on. We feel that prices should and will respond to the demand front abroad, par ticularly will this be true if the offerings from first hands are curtailed. Coarse Grain —Receipts t>f corn unexpectly large, but they met a broad and Irisk demand from all Interests notably from exporters The foreign demand ts confirmed by large movement of Chicago and the decrease in the visible supply A reliable crop authority calls attention to the fact that the beautiful appearance of th# crop 1s not likely to be confirmed by husking returns there be tng many barren stalks and nubbins as well ns possibility of damage by worm*. There has been liquidation of September oats on the other hand new investment buying has appeared in the December There i* a broadening shipping demand from the East and South We anticipare flrmness in both corn and oats. I’rovision*—Liquidation is being ex perienced in the bog products in sympathy with weakness in hog. Outward movement of lard is liberal, but does not broaden the demand for the deferred deliveries. CHICAGO GRAIN TABLE. —Aug. 22WHEAT Open. High Low. Close. Sept 1.16 117 1.13% 117 D#e 115 1.18% 114 1 18% CORN,Sept 52 .53% .51% .53% Dec 53 .54 1 - 52% .54/4 OATS Sept 34 .34% .33% 31 Dec 36% .37% 36% .37 PORK •Sept 17.00 LAUD Sept 10 40 11 42 10 22 10.22 Oct 10.55 10.53 10.35 10 37 RIBS - •Sept .... .... 8.80 Oct 8.80 8.80 8.70 5.75 Sept 1.01% 101% 99% 1.01% Dec 1.02 1.02% 1.00% 1.02 •Nominal CHICAGO CASH GRAIN. CHICAGO. Aug 22. Wheat —No. 2 red. $1.16® 1.16%; No. 3 red. $1.12%® 1.14%: No. 2 hard winter, $1.15%® 1.17% . No. 3 hard wtnte?, $1.14®1.15: No. 2 mixed. $1.14® 1.15% ; No. 3 mixed. $1.12® 113. Corn—-No. 2 mixed. 53%fr/54c; No. 2 white, 53%® 54c; No. 2 yellow, 53%® 54c; No. 3 mixed. 52%®53c; No. 3 yen low, 52%®53%c; No. 4 white. 51c; No. 4 yellow. 52c. Oats—No. 2 white, 32%® 34%c: No. 3 white 31%®32c; No. 4 white, 29%®31%c. TOLEDO CASH GRAIN. TOLEDO. Aug. 22. Wheat —Cash. $122; August. $1.22: September. $1.22; December. $1.20 Corn—Cash. 60%®61 %*-. Oats- Cash (old!. 40 1 -®4l%c; (new). 36% @37%c. Rve—Cash. 09%c. Barley -Cash. 03c. PRIMARY MARKETS. (By Thomson A- McKinnon.) Aug. 22 Wheat. Corn Oats. Chicago 251 .(XX) 742,000 620.003 Milwaukee . 201.000 298.1KX1 159.000 Minneapolis 604.000 32.(XX> 408.000 Duluth 171.000 2.000 14.0tX) St. Louis 397.000 101,000 118.000 Toledo Js,otxi 4,000 12.(XX) Detroit 1.000 3.(XX) 18.000 Kansas Citv. 1,040.000 69.000 69,000 Peoria 31,000 145.000 43.000 Omaha 241.000 95.(XX) 46.(XX) Indianapolis . 4.000 59.000 42,(XX1 Total* . . 2,966.(XX1 1.550.000 1.302.000 Year ago... 28.000 383,(XX) 1,687.000 —Shipments— Wheat. Corn. Oats Chicago 668.000 856.000 375.000 Milwaukee ... 215,000 110.000 128.000 Minneapolis .. 197.0<X> 70.000 91.01 X) St. Louis 100.000 64.(XX1 42.000 Toledo S.(XX* 3.(XX) 9,000 Kansas Cltv. 632.000 20.000 5,000 Peoria 13.000 31.(XK) 45.000 Omaha 335.000 67.1XX1 34.(XX) Indianapolis 8.000 It.ooo 42.000 Total* 2.262.000 077.000 636,000 Year ago... 995.(XX1 100,000 468.1X10 ClearaucesDom. IV. Corn. Oats. New York.... 76.(XX1 Boston 16.000 •Philadelphia. 40.000 34.<XK! New Orleaus. 826.(XK> /Galveston . .3.890.000 Totals ... 4,850,000 54,000 Yeiir ago... 1,212.000 •Two days. tAU last week INDIANAPOLIS CASH GRAIN. - Aug. 22 Bids for car lots of grain and hay at the call of the Indianapolis Board of 1 Trade were; Wheat —Steady: No. 2 red. sl2o® 1.22. | Corn—Steady; No. 2 while. 55®56c No. j 3 white. su@ssr: No. 2 yellow. 51 %/./ 57%c; No. 3 yellow, 55%@56%c: No. 2 1 mixed. 54@54%e: No. 3 mixew. 53@54%c. j Oats—Firm ;. No. 2 white. 34® 35c; No.! 3 white. 82@33c. Hay—Steady: No. 1 timothy. $19@19 50; i No. 2 timothy. $lB 50® 19; No. J light do- ; ver mixed. slß® 18.50; No. 1 clover hav, ! slß® 19 —lnspections Wheat—No. 2 red, 1 car. 1 car; No. 3 red. 10 cars; No. 4 red. 4 cars: No. 5 red 1 car: No. 3 mixed. 1 car: No. 3 dart northern spring, lear; sample, 2 ears total, 20 cars. Corn—No. 1 white. 3 acre; No. £ white, 26 cars: No. 3 white, 7 cars: No. 4 white’ ! 1 car; No. 1 yellow. 13 cars: No. 2 yet-! low, 33 cars; No. 6 yellow, 1 aer; No. 2 mixed,.2 cars; No. 3 mixed. 1 ear: No 4 mixed, l car: total. 88 cars. Oats —No. 3 white, 13 crts: No. 4 white. 28 cars; sample white, 8 cars: total, 49 cars. Rye—No. 2, 1 ear. HAY MARKET. The following art- the Indianapolis prices for hay by the wagon load, delivered. Hay—Loose timothy, old, $19@21; mixed hay, new, $17®18: haled hay. $lB ®2O. Oats—Bushel, new. 35@37c. Corn—New. 65®68c per bushel. WAGON YYHEAT PRICES. Indianapolis flour mills aud elevators tefiay are paying sl.lO for No. 1 red win tLr wheat; SI.OB for No. 2 red winter wheat and according to test for No. 3. pats are quoted st 30c for No. 3 white br better.

JAPS UNABLE TO MASTER PLANES Nippon Fighters Prove Poor Flying Material. t WASHINGTON, Aug. 22—Japan is reported to be building up a navy that can give equal battle to the American fleets, if the time ever comes when these two great nations enter luto hostilities. There is respect among the fi(i val m ell of America for the ships of the Japanese navy. \ Reports of development of aircraft la Japan are meager, however, and Ihere is a surprising lack of respect for \ths aerial defenses of Japan. \ Recent tests conducted by the AmerV, can Navy, In which aerial forces have', al tacked surface craft, have convinced naval experts that aircraft furnish a valuable weapon for the naval warfare of the future. No official comment is forthcoming from either the Navy Department or the War Department as to the success ol aviation In Japan, but It Is known that the Intelligence divisions of both departments have reports which indicate that at the present time Japan offers no serious opposition to the United Statuses a possible aerial enemy. These reports show that Japan, rapidly developing her air forces, is building aircraft, but la failing to build a strong force of alrflghters. The Japanese thus far have failed to Indicate that they are a flyiug race, reports of casualties in the Japanese aerial forces showing a remarkably high death rate. There have been but few JapanesK, aviators who have shown the Intrepid skill which makes for good air-fighting. The Japanese air forces are now largely manned by British aud German filers and mechanics. YYhether the Japanese will finally conquer the air is still a matter of conjecturo. There are some aviation experts who believe that the people of the Orient are psyoologiesUy Incapable of development as aviators. These experts say that only good horsemen make good aviators, and they declare that the Japanese are not a horse-loving race. Again, it is pointed out that the Japanese are not mechanical, and in support of this It is said that they hay# not yet mastered the submarine aud other complicated weapons of war. Still there are those who have confidence that the people of the Eastern country will conquer the air by their perseverance. Others point to the fact that they will always be able to secure foreigners who will man their airfleets. But, all in all, there is a very evident lack of respect for Japan as a potential aerial enemy. Marriage Licenses. Charles Nichols. 315 Pine st 43 Grace Vie. 910 W. Tenth st 30 James Mudd. 12S Wisconsin st 23 Helen Allmeroth. 129 Wisconsin 5t...19 Carl Hnsie. 1811 N. Talbott st 24 Heleu Lieputy. KVIO N. Keystone 5t...22 Forrest Esken, 662 E St. Clair at.... 21 Velma Bailey. 1639 - Belief on talue 5t..18 Thomas Warfield. 829 Paca st 29 Annette Barnes. 706% Indiana av 21‘ George Koerner, Denver Col 29 Anna Berta. 1735 English av ~30 William Airhart. 919 N. Senate ,4^ Ada Murphy. 821 N. West st 45 Hobart M%tee. PIS Congress av 25 Doris Salmon, 575 N. Belmont av...2t .Joseph Bartlett. 648 Porter st... 19 Maude Christoff, .934 Lynn st 19 William Segal. Cleveland. Ohio 36 Hannah Groenbaum, 915 S. Capitol av... 37 Rudolph Gustarson. 1625 E. Vermont. 29 Esther Applegreen. Chieago, 111 30 Births Osi-ar aud Lois Binkley, 1256 Shepard, girl. I.oweil and Catherine McKinzie, 1804 Sugar Grove, boy. Charles and Gladys Adams, 1316 S. East, boy. George and Waheda Thomas, 371S Roosevelt, girl. Herman aud Eleuora Billertnan, 2113 Lexington, boy. Water and Elia Brink. 2137 Napoleon, boy. Benjamin aud ina McGilliard, 444 Agues, boy. George and Mary Elliott, Methodist Hospital, hoy. R ‘bert and Annie Glaubke, Methodist Hospital, girl. Elza and Chloe Hawkins, 934 S. Capitol. girl. Walter and P.uth McGrery, St. Vincent's Hospital, girl. Abraham and Marie Zainey, St. Vincent s Hospital, boy. Joseph and Jospphine Tessler, St. Vincent's Hospital, girl. Lucien and Lois Lewis, Clark Blakeslee Osteopathic Hospital, boy. Harold and Francis Dwiggins, 2714 Indianapolis avenue, boy. Claude aud Edith Hatfield, 1026 Orange street, boy. Marshall and Elizabeth Thompson, 765 Bellevieu Place, girl. Dc'.o and Julia Kiss, 1260 YVest Washington boy. WiLiam and Gertrude Pfarr, 1709 Hoyt avenue, boy. William and Ruth Magee, 2823 Moorq/i avenue, girt. Eliza aud Bessie Williams, 1918 West Minnesota, boy. William and Mary Daly. 2841 Central avenue, boy. Walter and Ycrnie Haase, city hospital, girl. Deaths Nancy M. Bays, SO, 2919 N. Pennsylvania. chronic myocarditis. Amos M. Coffin, 62, 3569 Central, acute interstitial nephritis. August W. Williams. 72, city hospitaul, aru# parenchymatous nephritis. Louis Elmer Kiser. 1 month. St. Vincent's Hospital, aeute gastro-enteritis. Mary White. 65. 25 N. Randolph, mitral insufficiency. Mae Josephs. 28. St. Vincent's Hospital, chronic septic endocarditis. Minnie Myrtle Martin, 48, 2246 N. Talbott, chronic endocarditis. I)ena M. Walker, 21, Deaconess Hopltal, acute nephritis. Viola Nadine Popplewell. 0 days. 1913 5. Meridian, nonclosure foreamen ovale. Infant Prieshoff, 20 minutes, 1033 Blaine, premature birth. Agues Lee. 41, Robert Long Hospital, aeute nephritis. Annie Windsor Deffaven, 66, 1215 Ashland. cerebral hetnmorrhage. Caroline Stumnb, 83, 1613 College, hypostatic pneumonia. Joseph Crbanic, 9, City Hospital, fractured skull, accidental. George F. Green, 1219 Holliday, 2 day*, congenital atelectasis.

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